v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities      
Net earnings (loss) $ 182 $ (1,133) $ 409
Adjustments to reconcile net earnings (loss) to net cash flows from operating activities:      
Depreciation and amortization 796 829 825
Deferred income taxes (164) (396) (265)
Non-cash stock-based compensation 310 304 325
Net loss on disposal of property, plant and equipment 26 19 9
Non-cash restructuring and other charges 57 20 7
Pension and post-retirement benefit expense 82 76 50
Pension and post-retirement benefit contributions (112) (92) (116)
Impairment of goodwill and other intangible assets 0 1,286 471
Other adjustments and non-cash items 6 10 14
Changes in operating assets and liabilities:      
Decrease (increase) in accounts receivable, net 8 230 (285)
Decrease in inventory and promotional merchandise 51 184 766
(Increase) decrease in other assets, net (8) (11) 15
Increase (decrease) in accounts payable 83 21 (38)
Increase (decrease) in other accrued and noncurrent liabilities 483 (41) 209
Decrease in operating lease assets and liabilities, net (27) (34) (36)
Net cash flows provided by operating activities 1,773 1,272 2,360
Cash flows from investing activities      
Capital expenditures (457) (602) (919)
Proceeds from sale of property, plant and equipment 0 3 0
Proceeds from property, plant and equipment insurance recoveries 10 0 0
Purchases of investments (35) (1) (18)
Proceeds from disposition of investments 3 0 0
Payment for acquired business (5) 0 0
Settlement of net investment hedges (5) (23) (23)
Net cash flows used for investing activities (489) (623) (960)
Cash flows from financing activities      
Repayments of current debt, net 0 0 (215)
Repayments of commercial paper (maturities after three months) 0 0 (785)
Proceeds from issuance of long-term debt, net 0 0 648
Repayments of long-term debt (3) (505) (10)
Debt issuance costs 0 0 (4)
Payment of deferred consideration (300) 0 0
Settlement of cross-currency swaps 116 20 18
Net proceeds from stock-based compensation transactions 53 15 40
Dividends paid to stockholders (508) (618) (947)
Payments to acquire treasury stock (70) (35) (35)
Payment for acquisition of noncontrolling interest 0 (21) 0
Payment for acquisition of redeemable noncontrolling interest 0 0 (745)
Net cash flows used for financing activities (712) (1,144) (2,035)
Effect of exchange rate changes on Cash and cash equivalents 5 21 1
Net increase (decrease) in Cash and cash equivalents 577 (474) (634)
Cash and cash equivalents at beginning of year 2,921 3,395 4,029
Cash and cash equivalents at end of year $ 3,498 $ 2,921 $ 3,395